Covington Group Purchases 1 MSF Saugus Station Industrial Center in Santa Clarita, California

by Amy Works

SANTA CLARITA, CALIF. — Affiliates of Covington Group, along with an institutional capital partner, have acquired Saugus Station Industrial Center, a portfolio of buildings totaling 1 million square feet of industrial space in Santa Clarita.

Situated on 69.5 acres, the 24-building complex offers varying clear heights up to 39 feet and units ranging in size from 8,000 square feet to 133,000 square feet. At the time of purchase, the property was 100 percent occupied. The acquisition also includes a separate, 24-acre, fully horizontally improved land site.

Covington plans to implement a property and asset management strategy that will focus on tenant retention and aesthetic improvements to the property to increase curb appeal.

Craig Peters and Doug Sonderegger of CBRE represented the buyer and seller in the deal. Terms of the transaction were disclosed.

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